Blackstone Inc. $BX Shares Acquired by Simon Quick Advisors LLC

Simon Quick Advisors LLC increased its position in Blackstone Inc. (NYSE:BX) by 2.4% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 7,212 shares of the asset manager’s stock after acquiring an additional 170 shares during the period. Simon Quick Advisors LLC’s holdings in Blackstone were worth $1,079,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of the stock. Kingstone Capital Partners Texas LLC grew its holdings in Blackstone by 519,669.1% during the 2nd quarter. Kingstone Capital Partners Texas LLC now owns 70,132,441 shares of the asset manager’s stock valued at $10,490,411,000 after buying an additional 70,118,948 shares during the last quarter. Vanguard Group Inc. grew its holdings in Blackstone by 1.6% during the 1st quarter. Vanguard Group Inc. now owns 67,997,581 shares of the asset manager’s stock valued at $9,504,702,000 after buying an additional 1,102,949 shares during the last quarter. Goldman Sachs Group Inc. boosted its holdings in shares of Blackstone by 16.3% during the first quarter. Goldman Sachs Group Inc. now owns 5,292,320 shares of the asset manager’s stock worth $739,761,000 after purchasing an additional 742,829 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in shares of Blackstone by 4.4% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 4,291,546 shares of the asset manager’s stock worth $599,872,000 after purchasing an additional 182,526 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its holdings in shares of Blackstone by 2.9% during the first quarter. Charles Schwab Investment Management Inc. now owns 4,162,867 shares of the asset manager’s stock worth $581,886,000 after purchasing an additional 117,724 shares during the last quarter. Institutional investors and hedge funds own 70.00% of the company’s stock.

Blackstone Stock Down 0.3%

Shares of Blackstone stock opened at $148.42 on Friday. The company has a quick ratio of 0.74, a current ratio of 0.75 and a debt-to-equity ratio of 0.60. The firm has a market cap of $109.40 billion, a P/E ratio of 42.40, a P/E/G ratio of 1.18 and a beta of 1.77. Blackstone Inc. has a fifty-two week low of $115.66 and a fifty-two week high of $200.96. The business has a 50-day moving average price of $168.98 and a 200 day moving average price of $156.52.

Blackstone (NYSE:BX) last announced its quarterly earnings data on Friday, November 22nd. The asset manager reported $0.97 earnings per share for the quarter. The firm had revenue of $2.49 billion during the quarter. Blackstone had a return on equity of 22.30% and a net margin of 20.56%. On average, sell-side analysts forecast that Blackstone Inc. will post 5.87 earnings per share for the current fiscal year.

Blackstone Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, November 10th. Investors of record on Monday, November 3rd will be issued a $1.29 dividend. This is an increase from Blackstone’s previous quarterly dividend of $1.03. This represents a $5.16 annualized dividend and a yield of 3.5%. The ex-dividend date of this dividend is Monday, November 3rd. Blackstone’s dividend payout ratio is presently 147.43%.

Insider Transactions at Blackstone

In other news, major shareholder Private Multi-Asset Blackstone acquired 2,538,071 shares of the stock in a transaction that occurred on Monday, September 22nd. The stock was purchased at an average cost of $25.61 per share, with a total value of $64,999,998.31. Following the completion of the acquisition, the insider directly owned 7,506,209 shares in the company, valued at $192,234,012.49. This represents a 51.09% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, major shareholder Bx Buzz Ml-1 Gp Llc sold 16,689,884 shares of Blackstone stock in a transaction that occurred on Wednesday, August 13th. The shares were sold at an average price of $6.26, for a total value of $104,478,673.84. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders purchased 2,538,345 shares of company stock valued at $65,046,628 and sold 16,984,634 shares valued at $155,181,346. Corporate insiders own 1.00% of the company’s stock.

Analyst Ratings Changes

BX has been the topic of several analyst reports. Weiss Ratings restated a “hold (c)” rating on shares of Blackstone in a report on Wednesday, October 8th. Piper Sandler decreased their price objective on Blackstone from $173.00 to $168.00 and set a “neutral” rating on the stock in a report on Friday, October 24th. Barclays decreased their price objective on Blackstone from $171.00 to $165.00 and set an “equal weight” rating on the stock in a report on Friday, October 24th. HSBC dropped their target price on Blackstone from $179.00 to $178.00 in a research report on Monday. Finally, Keefe, Bruyette & Woods dropped their target price on Blackstone from $180.00 to $171.00 and set a “market perform” rating on the stock in a research report on Monday, October 13th. Eleven investment analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $179.74.

Blackstone Company Profile

Blackstone Inc is an alternative asset management firm specializing in real estate, private equity, hedge fund solutions, credit, secondary funds of funds, public debt and equity and multi-asset class strategies. The firm typically invests in early-stage companies. It also provide capital markets services.